The Department of Justice and the Department of Housing and Urban Development last week announced they had filed a civil mortgage fraud lawsuit against Deutsche Bank and its wholly owned subsidiary, MortgageIT, over some of its FHA lending practices...

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 is the greatest mortgage compliance concern for lenders, according to the third annual survey by QuestSoft, a compliance software and services firm serving the mortgage, banking and credit union industries...

Much of the mortgage industry remains abuzz with talk about the new proposed regulatory rules that would spell out what constitutes a “qualified mortgage” or “qualified residential mortgage.”...

The mortgage lending industry wants to use favorable legislation in Colorado as a model for other states to use in addressing neighborhood blight prevention via the accelerated transfer of abandoned property, one informed source confided to Inside Regulatory Strategies...

California. State Sen. Alex Padilla, D-Pacoima, is reportedly drafting his own version of anti- "dual track" legislation that would keep lenders and servicers from filing a foreclosure sale until a loan modification that has been requested by the borrower is denied...

Bill Beckmann, a former top official at CitiMortgage, has been named as the new president and CEO of Mortgage Electronic Registration Systems and its parent entity, MERSCORP. Beckmann is leaving behind his private consulting firm to join the company. Previously, he was chairman and CEO of CitiMortgage where he had responsibility for strategy, sales, operations, capital markets, and regulation/compliance. Before that, he was president of Citigroup’s real estate servicing and technology group, providing customer service, technology and default…

A handful of high-profile developments on the representations and warranties front over the last few months is prompting non-agency investors to contemplate whether they should start pricing in the benefits associated from repurchases. A few weeks ago, Bank of America and mortgage insurer Assured Guaranty reached a...

The Treasury Market Practices Group wants to improve efficiency in the agency MBS market by imposing charges for failure to complete transactions. “The TMPG is proposing fails charges in the agency debt and agency MBS markets in order to reduce the incidence of delivery failures in the market,” said Tom Wipf, chair of...

The city of Los Angeles on Wednesday filed a civil lawsuit against Deutsche Bank and its subsidiaries for failing to maintain the properties of loans that were pooled in non-agency MBS for which the company served as trustee. City Attorney Carmen Trutanich filed the over 200-page complaint, which accused the bank of...

A bill that would create a legislative framework for a covered bond market in the U.S. cleared a House subcommittee with bipartisan support this week following some fine tuning by its sponsors to address concerns raised by critics and regulators. The House Financial Services Subcommittee on Capital Markets and...